Hibah definition

Hibah means gift which is given without any consideration.

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Hibah means a voluntary akad containing the surrender and transfer of title of any property of a person to another person during his lifetime without consideration or damages where the benefit of his property may be enjoyed in accordance with Hukum Syarak;

Hibah means a gift awarded to a person. For the purpose of these guidelines, the term “hibah” defined herewith will be used together with the term “token” for ease of reference.

Examples of Hibah in a sentence

• Any Hibah credited to the account was on the bank’s sole discretion.

• It shall not be construed as an indicative Hibah nor give rise to any obligation on the part of HSBC Amanah to provide such Hibah in the future.

• It shall not be construed as an indicative Hibah nor give rise to any obligation on the part of the Bank to provide such Hibah the future.

• Any Hibah credited to the account shall be on the Bank’s sole discretion.

• The Bank shall be entitled to withhold payment of funds in the Account without liability to give Hibah after account closure.

• The takaful benefit is passed to the intended recipient (beneficiary) via Conditional Hibah contract which is revocable and shall only take effect after the death of the Participant and it is complete after Hibah recipient acknowledges receiving the Hibah.

• Conditional Hibah is to be completed by the Participant who has attained the age of eighteen (18) years, whereby the nominee(s) shall receive the takaful benefit as a Hibah recipient (the beneficiary) and the takaful proceeds under this contract shall be excluded from applicable inheritance law.

• It shall not be construed as an indicative Hibah nor give rise to any obligation on the part of the Bank to provide such Hibah in the future.

• Hibah disempurnakan oleh ▇▇▇▇▇▇▇ yang telah mencapai usia ▇▇▇▇▇ ▇▇▇▇▇ (18) tahun, ▇▇▇ akan menerima manfaat kematian sebagai benefisiari.

• If at the end of the period of ▇▇▇▇▇▇▇ stated in the schedule attached to the certificate and have expired by end of the declared financial year, there is a net surplus in the GRIA, then the net surplus will be shared at the ratio of 50:50 between the participants and the Takaful Operator under the contract of Hibah.

More Definitions of Hibah

Hibah atau "Proyek" berarti pendanaan ▇▇▇ syarat-syarat sebagaimana yang dinyatakan dalam Kondisi Perjanjian ini, yang sudah disetujui oleh Cowater ▇▇▇ DFAT.

Hibah means a non-binding unilateral voluntary gift which the Board of Directors may resolve to award and in such amount and out of such part of its net profits as it may decide from time to time at its absolute discretion but without being obligated to.

Hibah means a gift. Islamic banks resort to this approach as an act of gratitude to reward customers in return for a benefit received. For example, it could be given for earnings on their deposits such as Wadiah. It is not a mandatory requirement on the part of the financier or the bank to resort to such practices, and it is usually arbitrarily paid to acknowledge the financial integrity of the borrowers.

Hibah means a gift. In Takaful, contract of Hibah is applicable in surplus sharing. If there is a surplus sharing declared from the GFRIA at the end of financial year, 50% of the surplus will be shared with the eligible Participant based on the Hibah (gift) contract.

Hibah means a transfer of ownership of an asset from a donor (wahib) to a recipient (mawhub lahu) without any consideration and is a form of benevolent contract.